Wealth manager and platform Quilter says the ‘stronger nudge’ towards pensions guidance, introduced a year ago, has so far produced “lacklustre” results and needs to be beefed up.

SIPP providers will be required from June to “strongly nudge” pension savers to get government-funded pension guidance when they decide to access their pension savings, the FCA confirmed today.

The government-backed pension advisory Pension Wise says its users are more likely to use a financial adviser after taking guidance from the service.